Education

There are three or four areas that fall under education that lend themselves to this idea.

College Tuition
Private School Tuition
Daycare Expenses (Early Education)
Education Loans--from other institutions

College Tuition
Most colleges have a central clearing process that apply all loan proceeds to the amount of money owed by the student. Student accounts at some colleges are connected to the bookstore and other points of sales on the campus. Purchases made at these places are sometimes allowed to be charged to the student's account. Anything that is left over after those expenses are covered is disbursed to the student.

A STANDARD Points Bank EDUCATION loan is made out to the school in the name of the student. The maximum loan amount available for college tuition is equal to one and a half times the cost of tuition plus room and board. If the student lives off campus, an additional amount may be added but it would be on a case by case basis. Students must have the points on account in order for the loan to be processed.

Private School Tuition
This is a very interesting area of endeavor. Not only does this area have the ability to enrich the life of the individual with a personal loan, but it also can help struggling schools to build the financial base that they need in order to continue operating at the high level that private schools are known for.

Think about this for a moment. If you were sponsored by a school which is using this program as a means of raising funds, you know that the points that they accrue as a tax exempt organization can be turned into a donation--each month. Your points as an individual can translate into a loan, in this case, for education. We write the check to the school, on your behalf for tuition and fees, and since the school sponsored you (in this example), their points will be at least what you are eligible in loans. So if your loan is for $20,000, the school would get that and be eligible for a donation of that much and probably more because you were likely not the only person they sponsored.

Loans can be secured for any type of eduction, inlcuding the expenses for traveling, in cases where travel may be required.

Summer schools, internships, fellowships, etc., are all allowable uses of loan proceeds in our program.

Daycare Expenses
Members can pay for daycare expenses on a month-by-month basis or you can pay annually. We suggest that if you are going to make an annual prepayment, the daycare operator should become a member as well so that if you decide to move your child to another provider, you have some method of retrieving the refund of the unused portion of your funds.

Education Loans--from other institutions
There are literally hundreds of thousands of people who have secured student loans for education. Most of these people are saddled with the monthly payments after their deferment period has run out. In some cases, the interest payments are really quite reasonable because of government backing. Others are not as fortunate and their interest rates are higher. In either case, a Points Bank loan can be used to get the interest rate to ZERO and depending on what your needs are, you may be able to structure the terms to include a deferment.